$ONE 🚨 IMPORTANT UPDATE: THE FATE OF HARMONY COIN (ONE) 🚨
If you’re wondering why the price of ONE has dropped sharply lately, here’s a summary of the situation:
1. Official Network Shutdown: The Harmony blockchain (Layer 1) has officially been completely shut down. The main reasons were chronic security issues and a devastating hack that minted trillions of illegal coins. The cost of protecting the network from hackers was considered too high.
2. The Coins Aren’t Being Deleted—They’re Moving: The old ONE coins on Harmony’s original network no longer work. Instead, holders’ assets are being migrated to new tokens on the Ethereum network (ERC-20) through an automatic airdrop.
3. Business Pivot to AI: Harmony’s developers have given up on their old blockchain and decided to pivot to the AI-powered content economy. The new ERC-20 token will eventually be used in that AI ecosystem.
4. Why the Price Crashed: The sudden network shutdown and the loss of the coin’s functionality in its old ecosystem triggered investor panic, leading to a mass sell-off (panic selling).
So, is this coin definitely shutting down?
If you’re wondering why the price of ONE has dropped sharply lately, here’s a summary of the situation:
1. Official Network Shutdown: The Harmony blockchain (Layer 1) has officially been completely shut down. The main reasons were chronic security issues and a devastating hack that minted trillions of illegal coins. The cost of protecting the network from hackers was considered too high.
2. The Coins Aren’t Being Deleted—They’re Moving: The old ONE coins on Harmony’s original network no longer work. Instead, holders’ assets are being migrated to new tokens on the Ethereum network (ERC-20) through an automatic airdrop.
3. Business Pivot to AI: Harmony’s developers have given up on their old blockchain and decided to pivot to the AI-powered content economy. The new ERC-20 token will eventually be used in that AI ecosystem.
4. Why the Price Crashed: The sudden network shutdown and the loss of the coin’s functionality in its old ecosystem triggered investor panic, leading to a mass sell-off (panic selling).
So, is this coin definitely shutting down?